Shares of East West Bancorp, Inc. (NASDAQ:EWBC) have earned a consensus rating of “Hold” from the sixteen research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $70.30.
Several brokerages recently weighed in on EWBC. Zacks Investment Research cut shares of East West Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub raised shares of East West Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Deutsche Bank raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, February 6th. ValuEngine raised shares of East West Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Morgan Stanley lifted their target price on shares of East West Bancorp from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st.
In related news, Director Jack C. Liu sold 2,200 shares of East West Bancorp stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $58.07, for a total value of $127,754.00. Following the sale, the director now owns 23,599 shares of the company’s stock, valued at approximately $1,370,393.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Iris S. Chan sold 2,000 shares of East West Bancorp stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $66.69, for a total transaction of $133,380.00. Following the completion of the sale, the director now directly owns 20,301 shares in the company, valued at approximately $1,353,873.69. The disclosure for this sale can be found here. Insiders sold a total of 11,200 shares of company stock worth $704,434 in the last ninety days. 0.88% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of EWBC. Advisor Group Inc. raised its holdings in shares of East West Bancorp by 14.0% in the 2nd quarter. Advisor Group Inc. now owns 4,247 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 523 shares during the period. Stifel Financial Corp grew its stake in East West Bancorp by 4.1% in the 2nd quarter. Stifel Financial Corp now owns 16,173 shares of the financial services provider’s stock valued at $945,000 after buying an additional 633 shares in the last quarter. Royal Bank of Canada grew its stake in East West Bancorp by 156.1% in the 2nd quarter. Royal Bank of Canada now owns 72,735 shares of the financial services provider’s stock valued at $4,260,000 after buying an additional 44,336 shares in the last quarter. Janus Henderson Group PLC grew its stake in East West Bancorp by 18.5% in the 2nd quarter. Janus Henderson Group PLC now owns 589,479 shares of the financial services provider’s stock valued at $34,531,000 after buying an additional 92,228 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its stake in East West Bancorp by 25.1% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 30,331 shares of the financial services provider’s stock valued at $1,776,000 after buying an additional 6,079 shares in the last quarter. 90.90% of the stock is currently owned by institutional investors.
Shares of East West Bancorp (EWBC) traded up $0.03 during midday trading on Friday, reaching $66.85. 694,959 shares of the company traded hands, compared to its average volume of 857,210. East West Bancorp has a twelve month low of $48.07 and a twelve month high of $69.25. The company has a market cap of $9,660.00, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.45 and a beta of 1.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 1.00.
East West Bancorp (NASDAQ:EWBC) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.04). East West Bancorp had a net margin of 31.93% and a return on equity of 13.56%. The business had revenue of $365.06 million during the quarter, compared to the consensus estimate of $359.43 million. During the same period in the previous year, the business posted $0.76 EPS. East West Bancorp’s revenue was up 13.5% compared to the same quarter last year. equities analysts predict that East West Bancorp will post 4.4 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a dividend of $0.20 per share. The ex-dividend date was Friday, February 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.20%. East West Bancorp’s dividend payout ratio is currently 23.05%.
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East West Bancorp Company Profile
East West Bancorp, Inc is a bank holding company. The Company’s principal business is to serve as a holding company for East West Bank (the Bank) and other banking or banking-related subsidiaries. The Bank is a California state-chartered bank, which operates in the United States and Greater China. The Bank provides a range of personal and commercial banking services to businesses, business executives, professionals, and other individuals.
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